Marks&Spencer :TCS bags 5-year deal from Marks & Spencer
NEW DELHI:
India''s largest IT services firm Tata Consultancy Services (TCS) today
said it has expanded its partnership with Marks and Spencer (M&S) to enable
the British retail giant become a digital-first business.As part of
M&S'' five-year plan, TCS will be the principal technology partner for the
retailer and help drive agility, intelligence, innovation and efficiency, TCS
said in a statement.
Through
the partnership, M&S will transition to a new Technology Operating Model
that will help it align itself with rapid technology innovation to meet fast
changing business priorities.TCS did not disclose any financial details
of the deal."Our long standing partnership with M&S has helped
to build a strong contextual knowledge of their business... TCS will help the
customer adopt a digital-first mind-set to win new customers and create growth
at accelerated pace," TCS CEO and Managing Director Rajesh Gopinathan said.
The
retailer''s chief executive Steve
Row said M&S and TCS will join forces to make its
business "faster, simpler and more focused on achieving a seamless
customer experience."M&S had said in a statement on January 9
that core supplier services will transfer directly to TCS and the day- to-day
relationship and project management of specialist suppliers will move under the
control of TCS.
"As
a result of the new Technology Operating Model, c.250 existing M&S
Technology roles will transfer under TUPE to become TCS roles. Individual
conversations will take place with around 30 individuals whose functions will
be carried out differently in the future," it had said.The
statement further said that M&S will retain a smaller, more technical and
commercially focused team that will lead and drive technology to support the
business.
The
retailer had said the programme will deliver annual efficiencies of about GBP
30 million by 2021-22 and that there is a one-off cost to implement of about
GBP 25 million.TCS'' announcement today comes days after it had announced
its over USD 2-billion contract win from American insurer Transamerica. The deal with Transamerica -- its
largest to date -- is for transform the insurance and annuity business lines of
the US firm.The TCS scrip closed at Rs 2,747 on BSE, marginally lower
than its previous close.
Tuesday, 16 January 2018